Exhibit 21

 

Subsidiaries

 

                 
Name  

Place of incorporation

and kind of

legal entity

  

Principal activities

and place of operation

  

Particulars of registered/paid

up share capital

  

Effective interest

held

                 
United Warehouse Management Corp.  (“UWMC”)   British Virgin Islands   Investment holding   50,000 ordinary shares at par value of US$1 each   100%
                 
KSK Logistics Limited (“KSK”)   Hong Kong   Provision of logistic services   1 ordinary share for HK$1   100%
                 
Propose Enterprise Limited (“PEL”)   Hong Kong   Provision of financing services   100 ordinary shares for HK$100   100%
                 
United Warehouse Management Limited (“UWML”)   Hong Kong   Provision of warehousing and support activities for transportation   10,000 ordinary shares for HK$10,000   100%